There may be good reason to have an Indemnifier rather than a Guarantor for a residential lease. Here’s what the added schedule might look like: “Schedule “I”Third-Party Indemnity Agreement(To be …
Indemnification Clause: Commercial Lease
An Indemnification clause may be contained in a standard commercial Lease. It might appear as follows: “Section X – Third-Party Indemnity In consideration of the Landlord entering into this Lease …
Guarantors and Indemnifiers
Key Differences Feature Guarantor Indemnifier Nature of Obligation Secondary: pays only if the Tenant defaults Primary: responsible from the outset Landlord Must Sue Tenant First? Yes, unless waived in writing …
Guarantors and Indemnifiers for Leases
While Guarantors and Indemnifiers both provide security for someone else’s obligations, the legal effect, timing, and extent of liability are different. Here’s a breakdown of the key distinctions, especially as …
Selling with a Difficult Tenant
Question: I have a Seller Client who wants to list a Townhome with a (currently) disagreeable Tenant. Tenant is paying far under market rent, and apparently said, “I’m not going …
Rent Some, Not ALL of the Property
Let’s assume that you are a residential Landlord and you own a single family home. The best move would be to rent out some, but not all of the property. …
Time Limit on Residential Leases
Essentially, there’s no time limit on a residential Lease. The provisions under the Residential Tenancies Act prevail over any agreement between the Landlord and the Tenant. While many tenancies start …
Looking for Better Tenants?
The Residential Tenancies Act provides that Tenants have the automatic right to renewal FOREVER. That’s not good if you are the Landlord. If your property is subject to “rent control”, …
Tenants: Cash for Keys
If you are looking for a specific section in the Residential Tenancies Act referring to “cash for keys”, you won’t find it. It’s not there. This is simply a “work …
Tenants: Good or Bad?
Well, ordinarily you would think that you should be looking for good tenants. But, this is Ontario, and Ontario laws apply including the Residential Tenancies Act. So, who owns your …